Apple stock expectations are once again high after recent boffo quarters

Analysts are mostly counting on Apple to deliver yet another quarter of double-digit earnings growth when the Cupertino Colossus reports fiscal Q3 results next week.

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JJ Kinahan for Benzinga:

For those keeping score, AAPL has wowed analysts with solid double-digit results the last two quarters and three of the last four. In its fiscal Q2 alone, AAPL handily beat Wall Street’s expectations with a $23.6 billion profit on revenues that surged 54% to $89.6 billion. iPhone revenue in fiscal Q2 surged 65.5% to $47.94 billion, beating estimates on Wall Street by about $6 billion.

That’s got some analysts predicting a record-setting year in which net profit could eclipse $70 billion, nearly a third higher than last year’s, according to some estimates.

After a really bumpy start to the year that included a 20% correction from its peak, shares of Apple (AAPL—candlestick) have had a burst of energy over the last two months and now are nearly even with the S&P 500 Index (SPX—purple line) year-to-date…

AAPL is expected to report adjusted EPS of $1 per share, vs. earnings of $0.64 per share in the prior-year quarter, according to third-party consensus analyst estimates. Revenue is projected at $72.93 billion—up 22% from a year ago.

Options traders are pricing in about a 3.7% stock move in either direction around the upcoming earnings release around the coming earnings release.

MacDailyNews Take: We expect record earnings when Apple reports after the closing bell next Tuesday.

As always, we will have the results for you as soon as they are released, right around 1:30pm PDT / 4:30pm EDT on July 27th. Just check our homepage on that date at that time.

The company will also conduct a conference call with analysts to discuss third fiscal quarter results is scheduled for Tuesday, July 27, 2021 at 2:00pm PDT / 5:00pm EDT. We will also cover the Apple Q321 conference call with live notes. Visit check our homepage on that date around 1:45 pm PDT / 4:45 pm EDT for the link.

Interns, Tap That Keg™! Prost, everyone! 🍻

3 Comments

  1. You just watch. Tim Cook doesn’t give any guidance and the stock tanks. I’m not blaming Tim Cook. I’m just saying how Apple investors are very nit-picky about such things. I’m sure the stock will recover soon enough, but I really don’t see what the big deal is about guidance after Apple didn’t give guidance for a couple of quarters and Apple still beat earnings by a decent amount each time. I’m not concerned nor do I have any high expectations for Apple share gains. I’m doing well with Apple and most of my other dividend stocks. After seeing those terrible floods in Europe and China and those hellish wildfires in California and Oregon, I feel downright fortunate no matter how badly Apple bombs on earnings. Anyway, best of luck to Apple shareholders and maybe the third earnings quarter will be the charm. If not, there’s always the next quarter. It’s all good.

  2. What kind of “charm” are you actually hoping for? AAPL was in the low 120’s just weeks ago and if you’ve held for a couple of yrs, you’ve experienced triple digi gains.

    Needless to say, if one has held for a decade, or longer, your AAPL account if definitely “charmed.”

  3. Apple’s soon to be announced stellar results will turn MacDailyNews into a facial WhackDailyNews to Apple h888ers like AAPLCynsic.

    It’s always great to see Apple win because it means the Cynsics lose, and lose big.

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